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CURRENT ANNUAL
<br />ACTUAL PCT BUDGET PCT VARIANCE LAST YEAR VARIANCE DESCRIPTION ACTUAL PCT BUDGET PCT VARIANCE LAST YEAR VARIANCE FORECAST BUDGET
<br />5,859 5,400 459 5,437 422 TOTAL FACILITY ROUNDS 16,437 16,350 87 18,278 (1,841)36,087 36,000
<br />4,983 4,590 393 4,923 60 TOTAL GREEN FEE ROUNDS 11,747 12,870 (1,123)14,352 (2,605)27,936 29,059
<br />3,462 3,400 62 3,071 391 TOTAL RESTAURANT COVERS 4,534 7,900 (3,366)8,530 (3,996)15,934 19,300
<br />333 300 33 0 333 TOTAL BANQUET COVERS 573 400 173 651 (78)1,273 1,100
<br />Revenues
<br />14,783 5%18,075 6%(3,292)17,964 (3,181)LOYALTY PASS INITIATION FEES 57,198 8%57,690 7%(492)64,643 (7,445)109,788 110,280
<br />9,923 3%2,200 1%7,723 4,937 4,986 ANNUAL PASS INITIATION FEES 53,643 7%44,800 6%8,843 51,523 2,120 88,043 79,200
<br />148,222 48%141,670 50%6,552 133,926 14,296 GREEN FEES 341,663 45%379,595 47%(37,932)399,451 (57,788)831,609 869,541
<br />23,409 8%19,710 7%3,699 18,751 4,658 DRIVING RANGE 68,448 9%59,678 7%8,770 73,226 (4,778)140,171 131,401
<br />43,246 14%36,936 13%6,310 38,470 4,776 GOLF CART RENTALS 97,246 13%111,835 14%(14,589)105,936 (8,690)231,653 246,242
<br />1,773 1%1,680 1%93 1,935 (162) OTHER & MISCELLANEOUS GOLF 5,002 1%6,470 1%(1,468)7,085 (2,083)9,532 11,000
<br />19,294 6%18,900 7%394 18,555 739 GOLF SHOP MERCHANDISE 43,692 6%51,353 6%(7,661)51,219 (7,527)112,936 120,597
<br />14,412 5%11,070 4%3,342 13,797 615 F&B ON-COURSE 33,567 4%32,962 4%605 32,834 733 73,573 72,968
<br />25,967 8%25,500 9%467 19,745 6,222 F&B RESTAURANT 45,682 6%58,252 7%(12,570)54,689 (9,007)130,236 142,806
<br />6,493 2%5,850 2%643 8,455 (1,962) F&B BANQUET 11,239 1%7,800 1%3,439 12,756 (1,517)24,889 21,450
<br />307,522 100%281,591 100%25,931 276,535 30,987 TOTAL REVENUES 757,380 100%810,435 100%(53,055)853,362 (95,982)1,752,430 1,805,485
<br />Less: Cost of Sales
<br />11,450 59%13,249 70%1,799 11,936 486 GOLF SHOP MERCHANDISE 29,780 68%35,998 70%6,218 35,834 6,054 78,321 84,539
<br />17,603 38%14,935 35%(2,668)14,450 (3,153)FOOD & BEVERAGE 32,665 36%34,625 35%1,960 37,807 5,142 81,100 83,060
<br />29,053 28,184 (869)26,386 (2,667)TOTAL COST OF SALES 62,445 70,623 8,178 73,641 11,196 159,421 167,599
<br />278,469 253,407 25,062 250,149 28,320 GROSS PROFIT 694,935 739,812 (44,877)779,721 (84,786)1,593,009 1,637,886
<br />Payroll and Benefits
<br />23,224 8%22,840 8%(384)22,594 (630) GOLF OPERATIONS 89,138 12%87,951 11%(1,187)88,294 (844)195,546 194,359
<br />43,113 14%37,351 13%(5,762)37,012 (6,101) GOLF COURSE MAINTENANCE 125,873 17%139,963 17%14,090 134,316 8,443 300,448 314,538
<br />13,933 5%12,726 5%(1,207)13,175 (758) FOOD & BEVERAGE 30,346 4%34,557 4%4,211 33,161 2,815 80,439 84,650
<br />9,779 3%10,324 4%545 6,266 (3,513)GENERAL & ADMINISTRATIVE 7,928 1%61,944 8%54,016 32,013 24,085 69,872 123,888
<br />90,050 29%83,241 30%(6,809)79,047 (11,003)TOTAL PAYROLL AND BENEFITS 253,285 33%324,415 40%71,130 287,784 34,499 646,305 717,435
<br />Operating Expenses
<br />3,762 1%1,800 1%(1,962)5,969 2,207 GOLF OPERATIONS 15,957 2%29,400 4%13,443 24,658 8,701 23,707 37,150
<br />0 0%0 0%0 0 0 GOLF SHOP MERCHANDISE 30 0%0 0%(30)0 (30)30 0
<br />30,822 10%16,092 6%(14,730)23,373 (7,449) GOLF COURSE MAINTENANCE 86,901 11%86,920 11%19 72,579 (14,322)157,399 157,418
<br />2,767 1%3,000 1%233 3,336 569 COURSE ELECTRIC & WATER PUMPING 8,006 1%11,000 1%2,994 12,099 4,093 22,006 25,000
<br />5,994 2%2,915 1%(3,079)3,487 (2,507) FOOD & BEVERAGE 13,125 2%13,265 2%140 10,370 (2,755)25,215 25,355
<br />12,547 4%9,426 3%(3,121)9,469 (3,078)GENERAL & ADMINISTRATIVE 38,472 5%32,952 4%(5,520)32,674 (5,798)77,664 72,144
<br />1,966 1%3,400 1%1,434 4,235 2,269 MARKETING 13,703 2%15,900 2%2,197 18,280 4,577 34,103 36,300
<br />5,040 2%6,600 2%1,560 7,722 2,682 CLUBHOUSE 28,930 4%31,950 4%3,020 26,953 (1,977)65,355 68,375
<br />62,899 20%43,233 15%(19,666)57,591 (5,308)TOTAL OPERATING EXPENSES 205,125 27%221,387 27%16,262 197,613 (7,512)405,480 421,742
<br />152,949 50%126,474 45%(26,475)136,638 (16,311)TOTAL PAYROLL AND OPERATING EXPENSES 458,409 61%545,802 67%87,393 485,397 26,988 1,051,784 1,139,177
<br />125,520 41%126,933 45%(1,413)113,511 12,009 NET OPERATING INCOME 236,526 194,010 42,516 294,324 (57,798)541,225 498,709
<br />Fixed Assets & Misc. Expenses
<br />61,996 20%0 0%(61,996)94,998 33,002 MANAGEMENT FEE (13,121)-2%0 0%13,121 198,043 211,164 (13,121)0
<br />11,663 4%11,665 4%2 11,663 0 MAINTENANCE EQUIPMENT LEASES 69,976 9%69,990 9%14 77,323 7,347 139,966 139,980
<br />11,583 4%7,400 3%(4,183)3,786 (7,797)GOLF CART LEASES 16,955 2%22,200 3%5,245 7,572 (9,383)39,155 44,400
<br />2,425 1%2,000 1%(425)1,931 (494)INSURANCE (NON WORKERS' COMP)12,574 2%12,000 1%(574)10,331 (2,243)24,574 24,000
<br />902 0%0 0%(902)78 (824)INTEREST AND DEPRECIATION (DEBT SERVICE 902 0%0 0%(902)468 (434)180,902 180,000
<br />(0)0%0 0%0 75 75 MISCELLANEOUS 12 0%0 0%(12)583 571 12 0
<br />88,568 21,065 7%(67,503)112,531 23,963 TOTAL FIXED ASSETS & MISC. EXPENSES 87,298 12%104,190 13%16,892 294,320 207,022 371,488 388,380
<br />36,952 12%105,868 38%(68,916)980 35,972 NET INCOME 149,228 20%89,820 11%59,408 4 149,224 169,737 110,329
<br />12%0%38%0%-26%0%12%NET INCOME %20%0%11%0%9%0%20%0%6%
<br />$29.75 $30.86 ($1.12)$27.20 $2.54 Avg. $ Green Fee per Green Fee Round $29.09 $29.49 ($0.41)$53.82 ($24.74)$29.77 $29.92
<br />$4.00 $3.65 $0.35 $3.45 $0.55 Avg. $ Driving Range per Facility Round $4.16 $3.65 $0.51 $6.88 ($2.72)$3.88 $3.65
<br />$7.38 $6.84 $0.54 $7.08 $0.31 Avg. $ Cart Fee per Facility Round $5.92 $6.84 ($0.92)$9.80 ($3.89)$6.42 $6.84
<br />$0.30 $0.31 ($0.01)$0.36 ($0.05)Avg. $ Other Golf Revenue per Facility Round $0.30 $0.40 ($0.09)$0.64 ($0.34)$0.26 $0.31
<br />$3.29 $3.50 ($0.21)$3.41 ($0.12)Avg. $ Merchandise per Facility Round $2.66 $3.14 ($0.48)$4.82 ($2.16)$3.13 $3.35
<br />$2.46 $2.05 $0.41 $2.54 ($0.08)Avg. $ F&B On Course per Facility Round $2.04 $2.02 $0.03 $9.15 ($7.11)$2.04 $2.03
<br />$7.50 $7.50 $0.00 $0.00 $7.50 Avg. $ F&B Restaurant per Restaurant Cover $10.08 $7.37 $2.70 $8.87 $1.21 $8.17 $7.40
<br />$19.50 $19.50 ($0.00)$0.00 $19.50 Avg. $ F&B Banquets per Banquet Cover $19.61 $19.50 $0.11 $24.08 ($4.47)$19.55 $19.50
<br />195 180 15 181 14 Average Rounds per Day 91 90 0 101 (10)99 99
<br />COAL CREEK GOLF COURSE
<br />CONSOLIDATED INCOME STATEMENT
<br />FOR THE PERIOD ENDED
<br />June 2013
<br />CURRENT MONTH YEAR-TO-DATE
<br />11
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